by Eric Wolff (Politico) The Trump administration plans to reject a proposal that would let oil refiners off the hook for complying with the federal ethanol mandate, a senior administration official told POLITICO, dashing the hopes of billionaire Carl Icahn and a slew of independent companies.

The Environmental Protection Agency plans to formally announce the decision within the next two weeks, the official said.

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Ultimately, Icahn and his allies were unable to prevail over a peculiar alliance of major oil companies and biofuels producers, who opposed changing the Renewable Fuel Standard, though for different reasons.

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Biofuels producers believed that if EPA had shifted the “point of obligation” away from refiners, as Icahn and other companies requested, it would cause years of upheaval. The American Petroleum Institute, which represents much of the oil industry, including the oil majors, has opposed the change, saying it would be a distraction from the kind of overhaul or full-on repeal the program needs. READ MORE